ACT 14 OF 2003
THE KERALA
PAYMENT OF PENSION TO MEMBERS OF
LEGISLATURE
(AMENDMENT ) ACT, 2003 [1]
An Act further to amend the
Kerala Payment of Pension to Members of Legislature Act, 1976.
Preamble.--WHEREAS it
is expedient further to amend the Kerala Payment of Pension to Members of
Legislature Act, 1976, for the
purposes hereinafter appearing;
BE it enacted in the Fifty-fourth Year of the
Republic of India as follows:-
1. Short title and commencement.--(1) This Act
may be called the Kerala Payment of Pension
to Members of Legislature (Amendment) Act, 2003.
(2) It shall
be deemed to have come into force on
the 1st day of July, 2003.
2. Substitution of the
Schedule.--In the Kerala Payment of Pension to Members of
Legislature Act, 1976 (46 of 1976), for
the Schedule, the following Schedule
shall be substituted, namely:-
"SCHEDULE
[See section 2 (1)]
Rate of Pension
Period Rate of pension per mensem
(Rs)
For any period below two years … Rs.2,500
For two years in the aggregate
…
Rs.3,000
For three years in the aggregate … Rs.3,500
For four years in the aggregate … Rs.4,000
For five years in the aggregate
…
Rs.4,500
Provided that
where any person has served as a member as stated in sub-section (1) of section 2 for a period exceeding five years, there shall be paid to him an
additional pension of five hundred rupees per mensem for every year in excess
of five years:
Provided further
that in calculating the net qualifying period for pension, fraction of half
year and above shall be rounded to the next completed year:
Provided
also that the maximum pension to which a member is eligible under this Act shall not, in the aggregate, exceed rupees twelve thousand and five hundred per mensem.".